Ric Edelman, founder of the Digital Assets Council of Financial Professionals, talks about a key reason why crypto’s future looks bleaker: an apparent effort to cut it off from U.S. banks.
FDIC chief Martin Gruenberg said a probe is underway as he and Fed Vice Chairman Michael Barr get set to tell U.S. senators what went on at Silicon Valley Bank, Signature Bank and Silvergate Bank.
The Federal Deposit Insurance Corp. also acquired equity appreciation rights in the parent of First Citizens Bank, which are potentially worth up to $500 million.